Report to policy owners 2022 Report to Policy Owners

We are committed to maintaining our superior financial strength to deliver the secure financial future you and your family depend upon


Thank you for remaining loyal members of the New York Life community and for taking the time to review our performance and progress during the past year.

Despite ongoing economic volatility and the specter of a recession, New York Life’s financial strength is as robust as ever and we remain exceptionally well positioned to manage through any environment.

Craig DeSanto

Craig DeSanto

President & CEO

To our policy owners:

Thank you for continuing to place your trust in our company. I am proud to share what we accomplished on your behalf in 2022.

Last year, with the darkest days of the pandemic behind us, we reopened our offices across the country, reconnecting with our clients and colleagues in person. In doing so, we rediscovered something irreplaceable: the power of human connection.

People and relationships have always been integral to our business. But being back together after so long apart generated optimism and energy that contributed to strong results and even closer ties with all of you — the millions of people and businesses we serve.

We delivered healthy performance across all of our businesses in 2022, highlighted by record earnings and annuity sales. What’s more, we made — and continue to make — investments in the company to serve you better. You can feel confident in your decision to choose New York Life to help you create a secure future.

Our ongoing success and the sustained growth and stability of our business remains grounded in our  long-term orientation as a mutual life insurer. Not having to answer to Wall Street or meet the short-term demands of shareholders means we can focus on delivering value to our clients. This past year, that included declaring the largest overall dividend to eligible policy owners in the company’s history at $2B.

Sales, earnings, and dividends, however, tell only one side of our story. Our true success is measured by a different number: the number of people we help. For the vast majority of clients, that begins with the relationship you have with your New York Life agent. They embody the heart of our company. Your agent is there to answer your questions, address your concerns, and, most important, to provide you with the trusted advice and guidance you need to protect what matters most and prosper for the future. This is what our business has been about for more than 175 years.

Our mission to serve you is also why I chose to build my entire professional career at New York Life. We make a difference in the lives of so many people each and every day. Having the opportunity to now steward this iconic company is the privilege of a lifetime. And as I approach the end of my first year as CEO, my appreciation for our people and our clients has only deepened.

To this end, I must thank my predecessor, Ted Mathas, who retired in April 2022 after serving as CEO for 14 years. His tenure will be remembered as one of the most successful periods of growth in the company’s history. Moreover, his belief in not just what we do, but what we stand for, made an indelible mark on New York Life. Thanks to Ted, as well as the generations of visionary leaders before him, I am fortunate to be the latest beneficiary of the exceptional continuity of our purpose, mission, and values.

As you read more about the past year on the following pages, please keep in mind it is a snapshot of a moment in time. We continue to invest in making New York Life an even better, stronger company. From supporting our agents with new tools and solutions to better meet your needs, to further advancing our efforts to foster diversity, equity, and inclusion in every community we serve, our goal remains the same: to be here for those counting on us.

Thank you for choosing New York Life.

Download a PDF of the 2022 Report to Policy Owners